Disney axes Marvel's marketing department: report

By IBT Staff Reporter On 08/24/11 AT 1:24 AM

Entertainment conglomerate Walt Disney Co axed Marvel Studios' marketing department as it seeks to cut film costs in a move that comes right after the company showcased The Avengers, Marvel's first movie under Disney, at their fan D23 convention over the weekend, Bloomberg said.

Three top executives of the movie producer and comic-book publisher's marketing arm, including executive vice president of worldwide marketing Dana Precious, were fired the report said.

Disney, which had acquired Marvel in 2009, will absorb the marketing unit into its own film studio, a person familiar with the matter told the agency.

The operator of theme parks, the ESPN sports and ABC broadcast networks had expressed its intention to scrutinize and cut film costs after it reported a 60 percent drop in profit at its film unit in its latest quarter hurt by lower consumer spending in a weak economy.

Disney and Marvel declined to comment to Bloomberg. The companies could not immediately be reached for comment by Reuters outside regular U.S. business hours. (Reporting by Soham Chatterjee in Bangalore; Editing by Muralikumar Anantharaman)

A white Fiat van rammed into pedestrians outside enjoying a late afternoon stroll on Las Ramblas in Barcelona on Thursday killing at least 13 people and leaving hundreds injured. The Islamic State group claimed responsibility for the attack.